Salesforce (CRM) stock has been increasing amid a strong month for the company – which has been on the rise since launching its flagship AI product Agentforce.
The cloud giant’s stock stood at $342.02 at the close of November 22 – a considerable 18% increase from its valuation of $288.33 one month prior (October 22).
Enthusiasm Over Agentforce
CRM had stood at $224.38 on November 24, 2023, meaning the stock has risen by more than 50% in just one year.
It had been steadily increasing in the months following last November, but suffered a sharp dip in late May 2024, dropping to just $218.01.
The stock hovered around the mid-200s until September 2024 – the same month the company held Dreamforce and unveiled Agentforce, their game-changing AI agent suite.
A consistent increase can be seen in the stock’s value from September up until November 22.
Investment bank Stifel maintained their Buy rating for Salesforce, while TD Cowen raised their price target from 290 to 340 – meaning they generally expect the price to rise – according to Yahoo Finance.
“What both of them like is Agentforce which is the new product suite from Salesforce that incorporates AI in what it does. Both of them seem pretty enthusiastic about that particular aspect.” Julie Hyman, Anchor at Yahoo Finance
The optimism surrounding Salesforce comes ahead of its upcoming third quarter report on December 3.
The Age of “Agent-First”
In October, Salesforce announced the general availability of Agentforce – an integrated AI solution on the Salesforce platform designed to build, deploy, and scale AI agents.
The cloud giant says Agentforce goes beyond chatbots and copilots, using “advanced reasoning abilities” to make decisions and take actions.
This can include resolving customer cases, qualifying sales leads, and optimizing marketing campaigns, the company says.
In November, we reported on the release of the company’s new Agentforce Testing Center – an agentic lifecycle management tool to automate Agentforce testing, try out agents in secure Sandbox environments, and manage usage at scale.
This new “first of its kind” toolchain will let teams properly test AI agents at scale, meaning every enterprise can become “agent-first”, according to Salesforce.
Adam Evans, EVP and GM for Salesforce AI Platform, said in a press release on Wednesday that Agentforce is “helping businesses create a limitless workforce”.
Salesforce Ben had reported on the company’s Q2 ‘25 earnings in August, with Salesforce beating Wall Street estimates and maintaining their growth trajectory for the year. Agentforce was, perhaps unsurprisingly, the main story, with 39 mentions throughout the earnings call.
While public companies like Salesforce must report their earnings once a quarter to show investors how the company is faring, the earnings call is there to hype up the business and attract investors, so a pinch of salt might be needed when reviewing these.
Final Thoughts
Salesforce’s big push into the world of AI seems to be paying off at the moment, at least in terms of stock prices. CRM stock has risen considerably in recent months, but ecosystem members may want to keep an eye out for the company’s third quarter report on December 3.